home assistance programs: Down Payment Assistance Programs - San Diego
- 06/22/11 09:13 AM
Down Payment Assistance Programs - San Diego. One of the biggest obstacles in buying a house is saving enough money for a down payment. FHA loans require 3.5% of the purchase price for the down payment. On a $400,000 purchase that is $12,000, but you also need money for the closing costs and pre-paid expenses which include taxes, insurance, pre-paid interest and private mortgage insurance if you have less than 20% for the down payment. Total those items up and you need approximately an additional $12,600 for closing costs. Here's how those numbers break down Purchase price - $400,000 3.5% down payment - $12,000 … (1 comments)
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Down Payment Assistance Programs - San Diego. One of the biggest obstacles in buying a house is saving enough money for a down payment. FHA loans require 3.5% of the purchase price for the down payment. On a $400,000 purchase that is $12,000, but you also need money for the closing costs and pre-paid expenses which include taxes, insurance, pre-paid interest and private mortgage insurance if you have less than 20% for the down payment. Total those items up and you need approximately an additional $12,600 for closing costs. Here's how those numbers break down Purchase price - $400,000 3.5% down payment - $12,000 … (1 comments)
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